Biden: Economy In Danger Of Tanking
We had a hard timing bringing ourselves to post the latest dangerously crazy talk from Mr. Joe Biden, via ABC News.
But we thought we had better document it – for the historical record:
Biden: U.S. Economy in Danger of ‘Absolutely Tanking’
December 19, 2008
Vice President-Elect Joe Biden said the U.S. economy is in danger of "absolutely tanking" and will need a second stimulus package in the $600-billion to $700-billion range.
"The economy is in much worse shape than we thought it was in," Biden told me during an exclusive interview — his first since becoming vice president-elect– to air this Sunday on "This Week with George Stephanopoulos."
"There is no short run other than keeping the economy from absolutely tanking. That’s the only short run," Biden told me.
Biden said he has canvassed Republican and Democratic members of Congress about a second "big" and "bold" stimulus package . He said the Obama team is focused on creating jobs and spending on energy and information technology infrastructure.
"Every single person I’ve spoken to agrees with every major economist. There is going to be real significant investment, whether it’s $600 billion or more, or $700 billion, the clear notion is, it’s a number no one thought about a year ago," he said.
The future vice president said the struggling economy will be the number one priority for the Obama Administration next year.
"The single most important thing we have to do as a new administration, to have — to be able to have impact on all of the other things we want to do, from foreign policy to domestic policy, is we’ve got to begin to stem this bleeding here and begin to stop the loss of jobs in the creation of jobs," he said…
Just remember, Caroline Kennedy’s only political act to date was helping to pick Joe Biden to be Obama’s VP.
Who can doubt the soundness of her judgment?
Words of “wisdom” from Joe “Gird Your Loins” Biden to Obama’s ears…
So effectively the incoming mental “giants” think we need a $700+ billion bailout of the $700 billion bailout that was already tried and apparently isn’t working.
Call me crazy, but didn’t FDR use a similar “strategy” (ie massive government spending in the face of an economic slow down) to turn a relatively bad, but small crisis into a decade long “Great Depression” that only WWII pulled us out of?
But in the face of a much worse situation (ie the Carter economy), Reagan bit the bullet in the early 80s by crushing inflation and cutting taxes to create one of the best 25 year economic runs EVER!
How soon we forget…
Weasel, I guess they’re really insane since they continue to do the same thing that isn’t working. I used to teach and when I tried to teach my students about the “wonders” of FDR and how he prolonged the Great Depression, I got called to the office because some kid told his folks what I had said. I tried to explain this to my principal but to no avail. The AP who was in on the meeting agreed with me but we both were told to extol the virtues of the “greatest President ever in the whole entire world and in history!”.
As for Princess Caroline-well if this is what her “smarts” gets us, we’d be better off with Eric Cartman in the NY Senate seat.